Cipla's net profit rose 17.77% in Q1; what should investors do?
Global brokerages have revised their stance on Cipla. Cipla on Friday, during market hours, pharma major reported a 17.77 per cent rise in consolidated net profit at Rs 1,175.46 crore in the first quarter that ended June 30, 2024. (DISCLAIMER: The views and investment tips expressed by investment experts on zeebiz.com are their own and not those of the website or its management. zeebiz.com advises users to check with certified experts before taking any investment decisions.)
Cipla revenue in Q1
Cipla revenue in Q1
Consolidated total revenue from operations during the quarter under review of the company stood at Rs 6,693.94 crore as against Rs 6,328.89 crore in the year-ago period, it added.
Cipla management commentary
Cipla management commentary
"Our 'One-India' business continued on its growth trajectory during the quarter, led by branded prescription which grew at 10 per cent. Our concentrated focus and execution in the differentiated portfolio have further strengthened the US business which yet again posted all-time high quarterly revenue at USD 250 million," said Umang Vohra, Cipla Ltd MD and Global CEO.
Cipla expenses in Q1
Cipla expenses in Q1
Total expenses in the first quarter were higher at Rs 5,242.77 crore as compared to Rs 5,090.58 crore in the corresponding period last fiscal.
Cipla's performance in South Africa
Cipla's performance in South Africa
"We recorded a solid growth of 19 per cent YoY in local currency terms, led by the private market." Going ahead, Vohra said, "Focus will be on growing our key markets, further building our flagship brands, investing in the future pipeline as well as focusing on resolutions on the regulatory front."
Jefferies
Jefferies
By maintaining a 'hold', the brokerage raised the target to Rs 1,450 from Rs 1,400.
JP Morgan
JP Morgan
The brokerage maintained an 'overweight' rating and raised the target of Rs 1,630 from Rs 1,540.
Goldman Sachs
Goldman Sachs
By maintaining a 'sell' rating, the brokerage raised the target to Rs 1,400 from Rs 1,350.
Macquarie
Macquarie
The brokerage maintained an 'outperform' rating and gave the target of Rs 1,500.
Nomura
Nomura
The brokerage maintained 'neutral' on Cipla and raised the target to Rs 1,568 from Rs 1,535.
Citi
Citi
By maintaining a 'buy' rating, the brokerage raised the target to Rs 1,820 from Rs 1,650.